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PlanPlus Global launches software to evidence ongoing suitability

11 June 2019

PlanPlus Global has launched new suitability software designed to enable advisers to evidence ongoing investor suitability, in line with regulatory requirements and best practice. 

SuitabilityPro: FineMetrica Profiler, generates a suitability score that then maps to an investment portfolio in line with an investor’s risk profile. Advisers can adjust the ‘risk score’ by taking into account their understanding of clients’ risk required, risk capacity, risk knowledge, risk experience, risk composure and time horizon.

The risk tolerance profiling tool has been in development since August 2017 when PlanPlus and FinaMetrica merged to become PlanPlus Global and is the first in a series of developments that will sit within a suite of solutions under the banner SuitabilityPro.

The company said the new products will provide advisers with an end-to-end connected suitability advice process that ensures advisers’ clients remain suitably invested over time.

Paul Resnik, executive director, PlanPlus Global, said: “We have always been passionate about working collaboratively with advisers and planners, behavioural economists and pyschometricians around the world to develop the very best suitability software solutions possible. We have taken the assessment of risk profiling to the next level that sets a new higher industry for evidencing ongoing investor suitability.”

Shawn Brayman, CEO, PlanPlus Global, commented: “Risk tolerance should not be the only indication of the suitability of a portfolio recommendation. We now have the ability, through our technology, to help advisers deliver holistic and consistent recommendations that account for all dimensions of investment risk management at a very personal client level.”

Brayman added: “You’ll find suitable advice and better-informed investors at the point where the best technology meets the best professional judgment. Technology is wonderful, but it doesn’t know people the way advisers do. When it comes to assessing a clients’ overall attitude to investment risk, a personal relationship, knowledge and experience in providing advice is invaluable. SuitabilityPro: FinaMetrica Profiler will appeal to those advice professionals who feel the same way.”

There will be no extra charge for advisers who adopt the new functionality, the group said.

 

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